British government cuts stake in Lloyds bank by €677 million

The British government has cut its stake in Lloyds Bank by about €677 million and paved the way for selling more shares in Royal Bank of Scotland

8th October, 2015

The British government has cut its stake in Lloyds Bank by about €677 million and paved the way for selling more shares in Royal Bank of Scotland as Chancellor George Osborne seeks to exit both holdings.

The Treasury’s latest disposal of Lloyds shares reduced its stake in Britain’s largest mortgage lender to 10.97 per cent, according to a statement on Friday. Separately, RBS applied to convert 51 billion B shares into ordinary stock, a change...

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